Cingular to Restate 2000 to 2004 Results

Cingular Wireless, a joint venture of SBC Communications Inc. and BellSouth Corp., will restate 2000 to 2004 results, cutting pretax profit by $171 million, to comply with a new accounting rule on leases.

The change primarily affects how Atlanta-based Cingular accounts for cellphone tower leases, a spokesman said. The Securities and Exchange Commission this month called on companies to include “reasonably expected” increases in rents and duration.

The move will reduce reported fourth-quarter profit at SBC and BellSouth by 2 cents a share at each company.

Shares of San Antonio-based SBC rose 5 cents to $24.21, and Atlanta-based BellSouth rose 22 cents to $25.93, both on the NYSE.